Millard Corporation is a wholesale distributor of office products. It purchases office products from manufacturers and distributes them in the West Central, and East regions. Each of these regions is about the same size and each has its own manager and sales staff, The company has been experiencing losses for many months. In an effort to improve performance, management has requested that the monthly income statement be segmented by sales region. The company's first effort at preparing a segmented income statement for May is given below Sales Region West Central East Sales 312,000 $ 802,000 $ 705, 80e Regional expenses (traceable): Cost of goods sold 93,000 242,000 311,000 Advertising 104,000 242,000 237,000 Salaries 52,000 57,000 106,000 Utilities 8,700 16,100 13,800 Depreciation 21,000 29,000 27,000 Shipping expense 17,000 34,000 44,000 Total regional expenses 295,700 620, 180 738, 800 Regional income (toss) before corporate expenses 16,300 181,900 (33,800 Corporate expenses: Advertising (general) 14,000 38,000 37,000 General administrative expense 21,000 21,000 21,000 Total corporate expenses 335,000 59,000 58,000 Net operating income (toss) $ (18,700) (122,900) $ (91,800) The cost of goods sold and shipping expense are both variable. All other costs are fixed. Required: 3. Prepare a new contribution format segmented income statement for May. (Round percentage answers to 1 decimal place.) West East Total Company Amount * $ 1,805,000 100.0 Central Amount Amount % % Amount 100.0 100.0 1000 Sales Variable expenses Cost of goods sold 36,51